Italian-Thai Development

Italian-Thai Development Public Company Limited (ITD) is a construction company based in Bangkok, Thailand. Founded in 1958, it is one of the largest construction firms in the country, and is one of the two main contractors commonly hired for large-scale government projects, along with CH. Karnchang.^[1][2] Among its past construction projects are Suvarnabhumi Airport, the original sections of the BTS Skytrain, the northern section of the original MRT Blue Line, and the northern extension of Don Mueang Tollway.^[3][4]

Italian-Thai Development PCL

Company type	Public company
Traded as	SET: ITD
Industry	Construction
Founded	1958; 67 years ago (1958)
Founder	Chaijudh Karnasuta and Giorgio Berlingieri
Headquarters	Bangkok , Thailand
Area served	Southeast Asia
Key people	Premchai Karnasuta (President)
Website	www.itd.co.th

In 2024, ITD announced heavy financial losses mainly from the failure of the Dawei Port Project in Myanmar, which led to a liquidity crisis and downgrading of its credit ratings.^[5][6][7] Following the collapse of the State Audit Office building in the 2025 Mandalay earthquake, ITD is being investigated for its role as one of the two partners in the construction.^[8][9]

History

In 1954, Chaijudh Karnasuta, a Thai, and Giorgio Berlingieri, an Italian, collaborated in a venture to salvage five sunken ships. The two forged a relationship and they founded Italian-Thai Development (ITD) as a construction company on August 15 1958.^[10]: 6 In 1994, the company was publicly listed in the Stock Exchange of Thailand^[10][11] with a registered capital of 2,500 million Baht. The name of the company was subsequently changed to Italian-Thai Development Public Company Limited. ITD is responsible for the construction of the Suvarnabhumi International Airport which completed in 2006.^[12]

As of 2016^[update], the chairman is Krisorn Jittorntrum, with the director and president being Premchai Karnasuta.^[10]